As per the latest reports, Francis Suarez, the mayor of Miami City, Florida has made an exciting announcement for all the city locals. Suarez has revealed that they are in the process of handing out dividends from Bitcoin to all the citizens in the city.

However, Suarez has announced that only residents of Miami City with access to digital wallets will be able to acquire dividends of Bitcoin. This is huge news for the entire city of Miami as well as for the entire cryptocurrency community.

This is a huge move made by the city-mayor, which is going to bring in more exposure and user-base to cryptocurrencies in the city. This way, the city will eventually become one of the major hubs in the country in terms of the adoption of cryptocurrencies.

It was on Thursday, November 11, 2021, when Francis Suarez, the mayor of Miami City made the announcement in regards to the distribution of Bitcoin yields. He revealed that with this move, their city would be the first in the entire country to offer such an opportunity to its locals.

It was back in August of 2021, which MiamiCoin was reportedly launched by Citycoins. The reason behind the launch of the MiamiCoin was to raise funds for projects related to the municipality. The particular projects are funded through the yields generated through MiamiCoin.

So far, the city has successfully generated $21 million worth of yields through the staking of MiamiCoin. The wallet set up by the city administration tends to convert the yielded MiamiCoin into USD. This conversion is carried out by the commands of the officials from Miami City.

Francis Suarez has also made a prediction that may prove extremely beneficial for the residents of Miami. Francis Suarez has revealed that so far, the yields they have generated are much higher than what they had estimated.

Suarez has revealed that with the current yield rate they are generating through MiamiCoin, they will be able to do more than what they have on their agenda. He revealed that there are high chances they may be able to pay taxes on behalf of their citizens.

If this happens, Miami City will definitely become the most liked and favored city in the entire world in terms of crypto-adoption.

Suarez has revealed that although the residents will be required to have the digital wallet, they wouldn’t be required to own any MiamiCoin for getting BTC for free.

The city of Miami is aiming to reach out to as many locals as possible. Their ultimate goal is to expand their coverage and cover the surrounding areas and town of Miami City. With this move, Suarez is definitely bringing more and more support from the locals on his side, ultimately securing his position.